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June 16, 2010
Ask Why: Enron, "the diffusion of responsibility," and the Atlantic Yards parallels (will anyone look at the Development Agreement?)
Atlantic Yards Report
What does Atlantic Yards have in common with the worst corporate scandal of the past decade? Plenty.
Alex Gibney’s 2005 documentary, Enron: The Smartest Guys in the Room, contains several memorable quotes, but the most apt one, at least for Atlantic Yards watchers, is not listed on the IMDB quotes page.
It comes from whistleblower Sherron Watkins, with only about five minutes left to go in the film:
“Enron should not be viewed as an aberration, something that can’t happen anywhere else. Because it’s all about the rationalization that you’re not doing anything wrong. We’ve involved [accountants] Arthur Andersen, we’ve involved the lawyers, the bankers know what we’re doing. There’s a sense--the diffusion of responsibility. Everyone was on the bandwagon. And it can happen again.”
So the message of the film is a reminder to take seriously Enron’s (ironic, in retrospect) slogan, "Ask Why."
And what about AY?
Atlantic Yards isn't Enron--right?--but who's responsible for taking responsibility and telling the truth?
Government agencies and courts have punted on numerous issues, most glaringly regarding the timetable implied in the belatedly-released Development Agreement, which contradicts earlier promises.
Remember, the release in January came six days after a hearing in a case challenging the Modified General Project Plan (MGPP) was heard in court. It was also about three weeks after the ESDC told me the documents would be made available.
Posted by eric at June 16, 2010 12:14 PM